Common use of Payment of Performance Bonus Clause in Contracts

Payment of Performance Bonus. The Company shall pay to Executive an annual cash bonus with a target opportunity equal to 100% of Executive’s Base Salary (“Target Bonus”) and a maximum opportunity equal to 150% of Executive’s Base Salary, as determined by the Board, or the Compensation Committee, based on Executive’s performance and the performance of the Company during the prior fiscal year (“Bonus”). On or before March 1 of each year, the Company shall pay to Executive the estimated amount of such Bonus (the “Estimated Bonus”) based on the unaudited financial statements of the Company for the prior fiscal year. On or before April 15 on each year, the Estimated Bonus shall be adjusted in accordance with the audited financial statements of the Company for the prior fiscal year. The Board, or the Compensation Committee, shall promptly notify Executive in writing of the amount of adjustment, if any. If the Bonus is greater than the Estimated Bonus, the Company shall pay to Executive and additional cash payment equal to the amount by which the Bonus exceeds the Estimated Bonus. If the Bonus is less that the Estimated Bonus, Executive shall pay to the Company a cash payment equal to the amount by which the Estimated Bonus exceeds the Bonus. Any amount required to be paid pursuant to the preceding two sentences shall be made by the responsible party within ten (10) business days of the delivery of notice of adjustment to executive. Except as provided in Section 2.2(b), the Company shall not be obligated to pay Executive any Bonus for his performance or the Company’s performance during any year, unless Executive is employed through December 31 of such year.

Payment of Performance Bonus. The Company shall pay to Executive an annual cash bonus with a target opportunity equal to 100% of Executive’s Base Salary (“Target Bonus”) and a maximum opportunity equal to 150200% of Executive’s Base Salary, as determined by the Board, or the Compensation Committee, based on Executive’s performance and the performance of the Company during the prior fiscal year (“Bonus”). On or before March 1 of each year, the Company shall pay to Executive the estimated amount of such Bonus (the “Estimated Bonus”) based on the unaudited financial statements of the Company for the prior fiscal year. On or before April 15 on each year, the Estimated Bonus shall be adjusted in accordance with the audited financial statements of the Company for the prior fiscal year. The Board, or the Compensation Committee, shall promptly notify Executive in writing of the amount of adjustment, if any. If the Bonus is greater than the Estimated Bonus, the Company shall pay to Executive and additional cash payment equal to the amount by which the Bonus exceeds the Estimated Bonus. If the Bonus is less that the Estimated Bonus, Executive shall pay to the Company a cash payment equal to the amount by which the Estimated Bonus exceeds the Bonus. Any amount required to be paid pursuant to the preceding two sentences shall be made by the responsible party within ten (10) business days of the delivery of notice of adjustment to executive. Except as provided in Section 2.2(b), the Company shall not be obligated to pay Executive any Bonus for his performance or the Company’s performance during any year, unless Executive is employed through December 31 of such year.

Payment of Performance Bonus. The Company shall pay to Executive an annual cash bonus with a target opportunity equal of up to 100% of Executive’s Base Salary (“Target Bonus”) and a maximum opportunity equal to 150% of Executive’s 's Base Salary, as determined by the Board, or the Compensation Committee, based on Executive’s 's performance and the performance of the Company during the prior fiscal year (“"Bonus”"). On or before March 1 of each year, the Company shall pay to Executive the estimated amount of such Bonus (the “"Estimated Bonus”") based on the unaudited financial statements of the Company for the prior fiscal year. On or before April 15 on of each year, the Estimated Bonus shall be adjusted in accordance with the audited financial statements of the Company for the prior fiscal year. The Board, or the Compensation Committee, shall promptly notify Executive in writing of the amount of adjustment, if any. If the Bonus is greater than the Estimated Bonus, the Company shall pay to Executive and an additional cash payment equal to the amount by which the Bonus exceeds the Estimated Bonus. If the Bonus is less that than the Estimated Bonus, Executive shall pay to the Company a cash payment equal to the amount by which the Estimated Bonus exceeds the Bonus. Any amount required to be paid pursuant to the preceding two sentences shall be made by the responsible party within ten (10) business days of the delivery of notice of adjustment to executiveExecutive. Except as provided in Section 2.2(b), the Company shall not be obligated to pay Executive any Bonus for his performance or the Company’s 's performance during any year, unless Executive is employed through December 31 of such year.

Payment of Performance Bonus. The Company shall pay to Executive an annual cash bonus with a target opportunity equal to 100% of Executive’s Base Salary (“Target Bonus”) and a maximum opportunity equal to 150200% of Executive’s Base Salary, as determined approved by the Board, or the Compensation Committee, based on Executive’s performance and the performance of the Company during the prior fiscal year (“Bonus”). On or before March 1 of each year, the Company shall pay to Executive the estimated amount of such Bonus (the “Estimated Bonus”) based on the unaudited financial statements of the Company for the prior fiscal year. On or before April 15 on each year, the Estimated Bonus shall be adjusted in accordance with the audited financial statements of the Company for the prior fiscal year. The Board, or the Compensation Committee, shall promptly notify Executive in writing of the amount of adjustment, if any. If the Bonus is greater than the Estimated Bonus, the Company shall pay to Executive and additional cash payment equal to the amount by which the Bonus exceeds the Estimated Bonus. If the Bonus is less that the Estimated Bonus, Executive shall pay to the Company a cash payment equal to the amount by which the Estimated Bonus exceeds the Bonus. Any amount required to be paid pursuant to the preceding two sentences shall be made by the responsible party within ten (10) business days of the delivery of notice of adjustment to executive. Except as provided in Section 2.2(b), the Company shall not be obligated to pay Executive any Bonus for his performance or the Company’s performance during any year, unless Executive is employed through December 31 of such year.

Payment of Performance Bonus. The Company shall pay to Executive an annual cash bonus with a target opportunity equal to 100% of Executive’s Base Salary (“Target Bonus”) and a maximum opportunity equal to 150% a percentage of Executive’s Base Salarytotal mortgage loan production by the Company and its subsidiaries, as determined which percentage and total bonus shall be approved by the Board, or the Compensation Committee, based on Executive’s performance and the performance of the Company during the prior fiscal year (“Bonus”). On or before March 1 of each year, the Company shall pay to Executive the estimated amount of such Bonus (the “Estimated Bonus”) based on the unaudited financial statements of the Company for the prior fiscal year. On or before April 15 on each year, the Estimated Bonus shall be adjusted in accordance with the audited financial statements of the Company for the prior fiscal year. The Board, or the Compensation Committee, shall promptly notify Executive in writing of the amount of adjustment, if any. If the Bonus is greater than the Estimated Bonus, the Company shall pay to Executive and additional cash payment equal to the amount by which the Bonus exceeds the Estimated Bonus. If the Bonus is less that the Estimated Bonus, Executive shall pay to the Company a cash payment equal to the amount by which the Estimated Bonus exceeds the Bonus. Any amount required to be paid pursuant to the preceding two sentences shall be made by the responsible party within ten (10) business days of the delivery of notice of adjustment to executive. Except as provided in Section 2.2(b), the Company shall not be obligated to pay Executive any Bonus for his performance or the Company’s performance during any year, unless Executive is employed through December 31 of such year.